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Financial crisis, macroprudential policies, and depositor discipline

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Abstract
This paper examines to what extent macroprudential policies in the Turkish banking sector affected the functioning of depositor discipline. Our results suggest that depositors’ responses for poor bank performance get stronger after the 2008 crisis, when various macroprudential measures were implemented to preserve financial stability. In the aftermath of the crisis, bank behavior toward depositors also alters. Ahead of the crisis, banks did not significantly respond to the discipline exerted by depositors, however, banks begin offering higher rates to curb deposit withdrawals afterwards. Our findings suggest that the implementation of macroprudential tools seem to have a positive impact on financial stability, since, in the post-2008 period, regulatory supervision have been more firmly assisted by the market.
Keywords
Depositor discipline, financial crisis, macroprudential policies

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MLA
Aysan, Ahmet, et al. “Financial Crisis, Macroprudential Policies, and Depositor Discipline.” SINGAPORE ECONOMIC REVIEW, vol. 62, no. 1, World Scientific, 2017.
APA
Aysan, A., Disli, M., & Ozturk, H. (2017). Financial crisis, macroprudential policies, and depositor discipline. SINGAPORE ECONOMIC REVIEW, 62(1).
Chicago author-date
Aysan, Ahmet, Mustafa Disli, and Huseyin Ozturk. 2017. “Financial Crisis, Macroprudential Policies, and Depositor Discipline.” SINGAPORE ECONOMIC REVIEW 62 (1).
Chicago author-date (all authors)
Aysan, Ahmet, Mustafa Disli, and Huseyin Ozturk. 2017. “Financial Crisis, Macroprudential Policies, and Depositor Discipline.” SINGAPORE ECONOMIC REVIEW 62 (1).
Vancouver
1.
Aysan A, Disli M, Ozturk H. Financial crisis, macroprudential policies, and depositor discipline. SINGAPORE ECONOMIC REVIEW. 2017;62(1).
IEEE
[1]
A. Aysan, M. Disli, and H. Ozturk, “Financial crisis, macroprudential policies, and depositor discipline,” SINGAPORE ECONOMIC REVIEW, vol. 62, no. 1, 2017.
@article{7204825,
  abstract     = {This paper examines to what extent macroprudential policies in the Turkish banking sector affected the functioning of depositor discipline. Our results suggest that depositors’ responses for poor bank performance get stronger after the 2008 crisis, when various macroprudential measures were implemented to preserve financial stability. In the aftermath of the crisis, bank behavior toward depositors also alters. Ahead of the crisis, banks did not significantly respond to the discipline exerted by depositors, however, banks begin offering higher rates to curb deposit withdrawals afterwards. Our findings suggest that the implementation of macroprudential tools seem to have a positive impact on financial stability, since, in the post-2008 period, regulatory supervision have been more firmly assisted by the market.},
  author       = {Aysan, Ahmet and Disli, Mustafa and Ozturk, Huseyin},
  issn         = {0217-5908},
  journal      = {SINGAPORE ECONOMIC REVIEW},
  keywords     = {Depositor discipline,financial crisis,macroprudential policies},
  language     = {eng},
  number       = {1},
  publisher    = {World Scientific},
  title        = {Financial crisis, macroprudential policies, and depositor discipline},
  url          = {http://dx.doi.org/10.1142/S021759081740001X},
  volume       = {62},
  year         = {2017},
}

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